Crypto transactions surge 706% in Asia as institutional adoption grows — Chai...
When it comes to cryptocurrency transactions, the region of Central and Southern Asia and Oceania, or CSAO, is growing rapidly. Emerging markets across Central and Southern Asia have registered a dramatic uptick in cryptocurrency transactions, highlighting a diverse range of motivations among locals for gaining exposure to digital assets such as Bitcoin (BTC) and Ether (ETH).New research from blockchain analytics firm Chainalysis finds that crypto transactions surged 706% in Central and Southern Asia and Oceania — a broad region that includes countries such as India, Pakistan and Vietnam —....
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The crypto world is bustling with momentum. Japan just revamped its Payment Services Act to be ‘crypto-friendly,’ opening the door for more institutional and mainstream adoption across Asia. In Dubai, tokenized real estate pushed sales past $18B in May – proof that on‑chain ownership of physical assets is no longer science fiction. Meanwhile, Bitcoin is […]
The market could “easily reach new all-time highs by the end of the year,” says IoTeX co-founder Dr. Raullen Chai. As the market dips over escalating tensions in Eastern Europe, Dr. Raullen Chai, the co-founder and CEO of blockchain network IoTeX, is urging crypto investors to hold on to their crypto.The Russian army recently started its advance on Ukraine, firing missiles on the second-largest European country. Following this, crypto markets took a nosedive, with all the top coins dropping between 8% and 18%, according to Cointelegraph Markets Pro. However, despite the current market....
Compared to Europe and North America, bitcoin adoption is still a tad slower in Asia, even though a large portion of bitcoin trading volumes are in China. Cryptocurrency payments haven't gained much traction in the region, despite the increase in bitcoin remittance services. Countries such as the Philippines and Indonesia stand to benefit from bitcoin transactions, as the former relies heavily on remittances while the latter has shown demand for Islam-approved non-interest financing. Even so, very few merchants accept cryptocurrency payments and there are no bitcoin ATMs available just....
Ripple is again breaking into the Asia market with a new XRP product, which would help drive institutional adoption. This move has been made in partnership with HashKey Capital, which launched this fund in order to expand institutional access to the altcoin. Ripple Invests In HashKey’s XRP Product In an X post, Hashkey Capital announced that it is launching Asia’s first XRP Tracker Fund with Ripple as an early investor. The asset manager noted that this move represents a significant step in expanding institutional access to XRP. Related Reading: Cardano Price Surge To $1.7: Here Are The....
It probably came as little surprise last year when crypto intelligence firm Chainalysis declared East Asia the worlds largest cryptocurrency market, accounting for 31% of all cryptocurrency transacted during the previous 12 months. The region has a broad base of retail users along with a solid foundation of crypto traders and institutions, and China alone was at the time mining around two-thirds of all the Bitcoin in the world.In July 2021, Fidelity Digital Assets surveyed 1,100 institutional investors in the United States (408), Europe (393) and Asia (299) between December 2, 2020 and....